Wall Street analysts expect that CenterPoint Energy, Inc. (NYSE:CNP) will announce earnings of $0.41 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for CenterPoint Energy’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.44. CenterPoint Energy posted earnings per share of $0.39 during the same quarter last year, which would indicate a positive year over year growth rate of 5.1%. The business is scheduled to report its next earnings results before the market opens on Thursday, November 8th.
According to Zacks, analysts expect that CenterPoint Energy will report full-year earnings of $1.60 per share for the current financial year, with EPS estimates ranging from $1.60 to $1.61. For the next financial year, analysts expect that the firm will post earnings of $1.69 per share, with EPS estimates ranging from $1.65 to $1.72. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for CenterPoint Energy.
CenterPoint Energy (NYSE:CNP) last issued its earnings results on Friday, August 3rd. The utilities provider reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the business posted $0.29 EPS. The business’s revenue was up 2.0% on a year-over-year basis.
CNP traded up $0.19 during trading hours on Friday, reaching $27.34. 6,715,801 shares of the stock traded hands, compared to its average volume of 4,712,918. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.92 and a beta of 0.44. CenterPoint Energy has a fifty-two week low of $24.81 and a fifty-two week high of $30.17. The company has a current ratio of 0.95, a quick ratio of 0.83 and a debt-to-equity ratio of 1.66.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Investors of record on Thursday, August 16th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Wednesday, August 15th. CenterPoint Energy’s payout ratio is 81.02%.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $27.99, for a total transaction of $111,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Milton Carroll sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total transaction of $282,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,000 shares of company stock valued at $504,820. Company insiders own 0.22% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CNP. BlackRock Inc. grew its holdings in CenterPoint Energy by 13.0% during the 2nd quarter. BlackRock Inc. now owns 45,260,445 shares of the utilities provider’s stock worth $1,254,170,000 after acquiring an additional 5,189,512 shares in the last quarter. Millennium Management LLC grew its holdings in CenterPoint Energy by 1,227.8% during the 2nd quarter. Millennium Management LLC now owns 3,452,630 shares of the utilities provider’s stock worth $95,672,000 after acquiring an additional 3,192,603 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in CenterPoint Energy by 2,384.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,232,730 shares of the utilities provider’s stock worth $34,159,000 after acquiring an additional 1,183,109 shares in the last quarter. Acadian Asset Management LLC grew its holdings in CenterPoint Energy by 27.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,640,194 shares of the utilities provider’s stock worth $128,578,000 after acquiring an additional 1,012,520 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in CenterPoint Energy by 39.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,795,150 shares of the utilities provider’s stock worth $77,453,000 after acquiring an additional 791,903 shares in the last quarter. 77.39% of the stock is owned by institutional investors.
About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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